Snapchat's parent company Snap has reportedly acquired ad tech startup Metamarkets for under $100m to measure how campaigns are performing; featuring an API to import programmatic data into other apps.
Twitter, Oath and Rubicon Projects are some of Metamarkets clients.
As reported by Tech Crunch, Metamarkets is profitable and currently generating tens of millions in revenues. It’s not clear what happens with the company’s existing business as part of the deal.
This latest acquisition will help Snapchat's newly unveiled tool called Snap Pixel which allows advertisers to track conversation across platforms and, eventually, support more sophisticated targeting.
It was recently revealed that, paid media increased across social media with Snapchat and Instagram recording huge growth